“Victoria’s wealth was built on gold mining and the industry remains integral to creating regional jobs.”

It seems Labor’s budget is to be built on taxing that industry, with the miners’ ability to employ to be hampered by this new, unheralded tax.

In an uncertain environment gold miners, like all industries, will think twice before making decisions to invest in Victoria if they feel they are exposed to a tax regime that will materially hurt their bottom line.

It remains Labor’s approach to managing a budget – taxing more to pay for their unaffordable promises.